Parkside Financial Bank Trust Lowers stake in Tallgrass Energy Partners LP (TEP)

Tallgrass Energy Partners LP (TEP) : Parkside Financial Bank Trust reduced its stake in Tallgrass Energy Partners LP by 2.91% during the most recent quarter end. The investment management company now holds a total of 18,365 shares of Tallgrass Energy Partners LP which is valued at $880,969 after selling 550 shares in Tallgrass Energy Partners LP , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Tallgrass Energy Partners LP makes up approximately 0.42% of Parkside Financial Bank Trust’s portfolio.

Other Hedge Funds, Including , Oxbow Advisors reduced its stake in TEP by selling 116,871 shares or 16.24% in the most recent quarter. The Hedge Fund company now holds 602,884 shares of TEP which is valued at $28,920,345. Tallgrass Energy Partners LP makes up approx 4.05% of Oxbow Advisors’s portfolio.Duff Phelps Investment Management Co boosted its stake in TEP in the latest quarter, The investment management firm added 15,600 additional shares and now holds a total of 655,000 shares of Tallgrass Energy Partners LP which is valued at $30,974,950. Tallgrass Energy Partners LP makes up approx 0.46% of Duff Phelps Investment Management Co’s portfolio.Country Club Trust Company N.a. reduced its stake in TEP by selling 2,288 shares or 22.04% in the most recent quarter. The Hedge Fund company now holds 8,092 shares of TEP which is valued at $372,556. Tallgrass Energy Partners LP makes up approx 0.05% of Country Club Trust Company N.a.’s portfolio.Spirit Of America Management Corpny boosted its stake in TEP in the latest quarter, The investment management firm added 85,640 additional shares and now holds a total of 241,882 shares of Tallgrass Energy Partners LP which is valued at $10,616,201. Tallgrass Energy Partners LP makes up approx 1.56% of Spirit Of America Management Corpny’s portfolio.

Tallgrass Energy Partners LP opened for trading at $47.53 and hit $48.495 on the upside on Monday, eventually ending the session at $47.99, with a gain of 1.59% or 0.75 points. The heightened volatility saw the trading volume jump to 1,52,951 shares. Company has a market cap of $3,461 M.

On the company’s financial health, Tallgrass Energy Partners LP reported $0.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.60. The company had revenue of $146.90 million for the quarter, compared to analysts expectations of $151.68 million. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.

Tallgrass Energy Partners LP owns operates acquires and develops midstream energy assets in North America. The Company provides natural gas transportation and storage services for customers in the Rocky Mountain and Midwest regions of the United States through Tallgrass Interstate Gas Transmission system and the Trailblazer Pipeline. The Company’s business segments include Natural Gas Transportation & Logistics which includes the ownership and operation of Federal Energy Regulatory Commission(FERC)-regulated interstate natural gas pipelines and integrated natural gas storage facilities; Crude Oil Transportation & Logistics which includes the ownership and operation of a crude oil pipeline system and Processing & Logistics which includes the ownership and operation of natural gas processing treating and fractionation facilities as well as water business services provided to the oil and gas exploration and production industry.

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